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Gary (MO)

Sending Blank Contracts

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I talked to a (possible CA) seller today who wants to read my contracts to see if he is willing to "live with" a longer lease. I've read here before where it's done all the time but I wanted to double check and make sure.

 

Thanks!

Gary

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That doesn't make any sense. Why would he need to read your contracts to decide if he can "live with" a longer lease? Besides, if this is a CA, wouldn't it be a regular 12 month lease?

 

I'm confuzzled :D

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I asked him how long a lease he was interested in (since he called my ad on a Lease Purchase) and he said "that depends on how good the lease is. If it's a hands off situation for me I don't mind letting it cook indefinitely".

 

12 month lease vs. 24, 36 or longer...

 

Thanks Doug.

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Hello!

I would not leave any of my blank contracts with anyone. You can try something like a summary contract that will give him all the highlights and if he is okay with the deal then you guys can move to sign a contract in which you both can go over together.

Cruz or Brandon?

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Gary, never leave blank contracts with anyone. Whatever their reason may be, do not leave your paperwork lying around. Once he has them, what need has he for you?

If he insists on reviewing them first, you can try several things to mollify this character. First, you can claim it is against "company policy" to leave your contracts with anyone. Kind of puts it off to a higher authority and takes it out of your hands.

Or, you can do as Cruz/Brandon said and leave him a summary contract.

Or, you can review the contracts together, never letting them out of your eyesight. I assure you if you do this, and this guy is legitimately interested in your help, he will be quite pleased with the very favorable terms he will be getting in writing.

Also, keep it clear to the seller, Gary. If the CA is what you are shooting for, then make the homeowner realize that 12 months is to his advantage. One you start muddying the waters with all sorts of possibilities the confusions can creep in. And that's not good for anyone.

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I have left blank contracts a few times when I have felt it was necessary to get the business.

 

However, I converted them to a PDF format first, and then placed a watermark that spans the page diagonally that says "SAMPLE ONLY".

 

It hasn't bit me in the A#$ yet.

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Gary,

Just like when a buyer asks for the sale price of a LO, when a seller asks to see contracts, that usually shows the same result. Little or no motivation.

 

Don't play games, if they want to see your contracts make sure it's when you're sitting across the table with a pen.

 

I used to send my contracts too, but not any more. I've even done the "watermark" thing too. It helps to stop them from copying, but if you're like me and can type almost a hundred words a minute, it ain't hard to put them to word.

 

One more thing before I get off my soap box, as MC would say. During a CA, I make it DARN TOOTIN CLEAR that the contracts are for the seller's best interest. If they trust me as a consultant/investor with enough common sense to cover my own tail, they have nothing to lose. And get this, someone can give you agreements all day long from the net, but you STILL end up paying for some attribute or another, why would you give that away for free?!

You're a professional; make sure the world can respect that!

Regards,

Adam

PS I LOVE the summary idea! I have one paragraph outlines of ALL my investing strategies, but I still hate to even give that out. I would rather be there to answer questions even if it costs me a trip to do it.

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Here's another angle:

 

Use and expanded version of "What you don't know can hurt you." while exhibiting

some of my personal fundamentals of negotiation--Validation, Agreement, Cooperation, and Value.

 

I understand your concerns, Mr/Mrs. Seller, and, of course you can review my contract. You are wise to do your due diligence and desire to protect yourself in this type of transaction. However, I am concerned about your liability should you decide to take this information and attempt to consumate the deal yourself. Our goal is to craft a win-win-win solution to your property challenge and this contract represents only about 1/4 of the sum effort necessary to complete the sale of your property. We provide a total solution and have experience and the knowledge to implement the whole package. (or some such language)

 

Certainly there will be some unscrupulous types out there and by planting this seed, I hope to cause them many, many sleepless nights should they decide to proceed without me.

 

option8

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